Hermes triples size of Moscow's Red Square store

MOSCOW (Reuters) - French luxury goods maker Hermes (HRMS.PA) will reopen one of its two Moscow shops on Thursday after tripling its selling space in a gesture of long-term confidence in the market.

A Hermes sign is seen on one of their Paris stores, February 12, 2015. REUTERS/Christian Hartmann

Hermes first opened the shop in Russia’s landmark GUM shopping center on the Red Square in December 2007.

The original store occupied around 250 square meters but after expansion and relocation within GUM, the shop’s selling space has risen to 740 square meters and it now offers clothing, accessories, watches and jewelry, perfumes, and home collections on three levels.

The store, now the company’s second-biggest in Europe, will open at a time when Russia’s economy has experienced a sharp downturn.

The company’s chief executive officer Axel Dumas said the investment was taken for the long-term.